Blackstone Secured Lending Fund (NYSE:BXSL) Receives $31.88 Consensus PT from Analysts

Blackstone Secured Lending Fund (NYSE:BXSL) has received an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $31.54.

Several brokerages have issued reports on BXSL. JPMorgan Chase & Co. upped their price target on shares of Blackstone Secured Lending Fund from $31.50 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and issued a $33.00 price target on shares of Blackstone Secured Lending Fund in a research report on Wednesday, August 14th. Wells Fargo & Company cut shares of Blackstone Secured Lending Fund from an “overweight” rating to an “equal weight” rating and set a $29.00 price objective for the company. in a research report on Monday. Finally, Compass Point decreased their price objective on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating for the company in a research report on Friday, November 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BXSL. Ensign Peak Advisors Inc boosted its stake in Blackstone Secured Lending Fund by 51.7% during the second quarter. Ensign Peak Advisors Inc now owns 5,035,082 shares of the company’s stock worth $154,174,000 after acquiring an additional 1,715,357 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Blackstone Secured Lending Fund by 106.5% in the second quarter. Van ECK Associates Corp now owns 3,180,714 shares of the company’s stock valued at $97,393,000 after buying an additional 1,640,211 shares in the last quarter. Sound Income Strategies LLC lifted its stake in shares of Blackstone Secured Lending Fund by 140,837.8% in the second quarter. Sound Income Strategies LLC now owns 759,655 shares of the company’s stock valued at $23,261,000 after buying an additional 759,116 shares in the last quarter. Baillie Gifford & Co. bought a new position in shares of Blackstone Secured Lending Fund in the second quarter valued at $12,199,000. Finally, Magnolia Capital Advisors LLC bought a new position in shares of Blackstone Secured Lending Fund in the second quarter valued at $8,042,000. 36.49% of the stock is owned by institutional investors.

Blackstone Secured Lending Fund Stock Performance

Shares of NYSE BXSL opened at $32.04 on Friday. Blackstone Secured Lending Fund has a 52-week low of $27.23 and a 52-week high of $32.67. The firm has a 50 day moving average price of $30.81 and a two-hundred day moving average price of $30.66. The stock has a market cap of $6.94 billion, a P/E ratio of 8.90 and a beta of 0.43.

Blackstone Secured Lending Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 9.61%. The ex-dividend date is Tuesday, December 31st. Blackstone Secured Lending Fund’s dividend payout ratio is presently 85.56%.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).